Stocks fall but Wall Street notches a winning week after several turbulent days

详细摘要

Stocks fell in shaky trading on Wall Street Friday, but the market still posted its first winning week since early October.

U.S. stocks closed lower Friday as a pullback in big AI-focused companies weighed on the market, capping a turbulent week on Wall Street.

The S&P 500 fell 0.4 percent, but managed to post a 2.5 percent gain for the week. This marks the benchmark index’s first winning week since October and its biggest weekly gain since August.

The Dow Jones Industrial Average recovered from an early slide and eked out a 0.1 percent gain. The Nasdaq composite fell 0.9 percent, but also notched its first weekly gain in five weeks.

The major indexes have been shaky this week as some of the biggest AI companies pushed and pulled the market. Many of those companies have big stock values with a heavier impact on the market’s gains or losses.

The market remained unsteady a day after the AI industry was rocked by the resignation of Nvidia CEO Jensen Huang. The company has been the face of the AI industry, which has been responsible for much of the gains, and big swings, on Wall Street.

Huang stepped down after his affair with a Chinese tech executive raised U.S. national security concerns. Nvidia’s longtime chief financial officer, Colette Kress, will be its interim CEO. The ensuing fallout cost Nvidia’s market cap just under $600 billion this week.

The AI industry’s influence over Wall Street was evident again Friday, as the slump in technology stocks with a big focus on AI weighed on the market, even though more than 60 percent of the stocks within the S&P 500 rose.

Nvidia was again among the heaviest weights and it fell 2 percent. Broadcom fell 4.8 percent and Advanced Micro Devices lost 8.8 percent. Both companies saw their shares surge earlier this week as the management shake-up at Nvidia unfolded.

Nvidia in particular has been slipping for weeks amid wider concerns about a potential slowdown for the industry. The big worry has been whether AI will produce enough profit to justify the costly investments and big stock values.

文章开头，摘自The Boston Globe。如需阅读全文，请前往媒体网站。